Hi There,
I have recenty bought a 800sqm block of land zoned LMR in Brisbane. I intend to develop units on the block but I am not sure how much that will cost. Worst case scenario, I should be able to build a two storey building with 6 decent size units. Best case scenario I might be able to develop a three story building with carparks on the ground floor and 8 decent size units on Level 1 and 2.
I wonder what an appoximate cost to develop would be? I am currenlty thinking that the first development, 6 units should cost around $1,600 per sqm, fully developed. With an average unit size of 100sqm, the development should cost $960k.
Does anybody have better information?
How much more would it cost building three levels to accomodate parking on the ground floor? Any chances of buying palns of the "rack"?
I appreciate everybodies help!
Cheers
<font color=”#000000″>i think thats a bit underpriced, but brisbane has a much more relaxed building code than darwin.
in saying so, up here, id bank on $200-$250k per unit to fully develop the property.
i cant be too much more specific than that unfortunatley as i am unaware of the building code down there, but in regard to the ground floor parking, concrete is obviously one of your major costs, to give you a figure in mind, i poured a 180m2 suspended slab up here and it was worth around $25k, without the cost of formwork, this was also for a elevated home so the load bearing rating of it would be quite minimal comparing to a larger unit complex.
when i was looking at doing a 4 storey 12 unit complex, i got a draftsman to do some plans for about $2500. that was him designing and drafting. theres not really a much better way that im aware of, i doubt youll find a set of plans for such a complex that fit trouble free on your block. always worth a look..
hope this helps..</font>
No i agree $1600 + GST / Sq M would be about right for Bris at the moment.
Richard Taylor | Australia's leading private lender
Hi Kind Of New,
I have a 1200 sqm land in a LOW DENSITY RESIDENTIAL AREA LR, do you think i can build units?
Thanks for your help in advance.
Take Care
Hi there,
My understanding is that you can not. It needs to be LMR (Low Medium Residential). However, you can split the block and build houses. You might even be able to split it into three blocks with 400sqm each.
Have a look on http://olr13.brisbane.qld.gov.au/website/MN_CP/bcc_user_agreement.htm
Here you can see what the zoning looks like around you. Pick you subburn and choose the layer (left hand side) Area Classification.
Zoom in if you can not see any colour scheme. The colours tell you how everything is zoned around you. Maybe there is a chance of being re-zoned to LMR if you are close to LMR land. This would double the property value in no time.
Hope that helps … if you are in Brisbane I suppose.
Cheers
Stefan
Depending on the shape of the Block your going to potentially lose a considerable amount in driveway access, I suggest you have a sit down with an architect which specialises in DA proposals and possibly a Town Planner an try and get a feel how you can maximise the properties potential. They will aim for the stars and if they get you the moon your in front, aiming for council expectations is really compliance with no real benefit.
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